Cryptocurrency

Crytocurrency has been in use since 2009, when a developer (or multiple developers) with the pseudonym Satoshi Nakamoto launched bitcoin. The surprising rise of bitcoin's popularity over the decade after it was created has paved the way for thousands of other cryptocurrencies to be brought into existence.

As of 2021, there are around 6,000 different types of cryptocurrencies in existence. Each of these cryptocurrencies is used primarily as a medium of value exchange, in many ways similar to how the US dollar and other forms of paper money are used. However, the digital only nature of cryptocurrencies gives them much more flexibility than paper currency issued by central governing authorities.

In this Cryptocurrency section of TheTechnologyvault.com, we will educate you on the various cryptocurrencies that are available as well as how to make use of the tools that are used with cryptocurrencies, including digital wallets (e.g. Lobstr), crypto market exchanges, and others that are used for managing cryptocurrency.

There are over 12,000 different forms of cryptocurrency currently available for use.

We are building and maintaining a List of All Cryptocurrency Coins for your reference.

If you are new to how cryptocurrencies work, a good place to start is by watching intro to cryptocurrency video below, which provides some solid foundational context behind the purpose of cryptocurrency and how the various cryptocurrency coins are developed.

Crypto Utility Tokens

By Richard Robbins | May 6, 2022 | 0 Comments
Crypto Utility Tokens Blockchain

Cryptocurrency coins generally serve the purpose of being stores of value and mediums of exchange. Utility tokens in the cryptocurrency world have a unique purpose compared to other crypto coins. Utility tokens are designed to be used for specific purposes (or functions). In order for a cryptocurrency coin to be truly classified as a utility token, it should meet the following criteria: Utility tokens have limited supply.Utility tokens have a specific purpose or function.Utility tokens provide meaningful value to those who hold them. The most common use case for a utility token is a native token that is used to…

Binance Coin (BNB) Cryptocurrency

By Richard Robbins | May 3, 2022 | 0 Comments
Binance Coin BNB Cryptocurrency

Launch Date July 2017 Creator Changpeng Zhao (or CZ) Consensus Mechanism Proof-of-Staked Authority (PoSA Binance Coin, abbreviated BNB, is the most popular crypto coins in circulation, with a market cap that is the 4th largest, behind only Bitcoin, Ethereum, Tether. BNB was created by the Binance crypto exchange, specifically as a utility token with the explicit purpose of paying transaction fees to use on the Binance crypto exchange. Using BNB to pay for transaction fees on Binance gives a 25% discount on those fees. BNB is the native coin to the Binance Smart Chain, the Binance blockchain that supports smart…

Tether (USDT) Cryptocurrency

By Richard Robbins | April 29, 2022 | 0 Comments

Launch Date October 6, 2014 (as RealCoin) Official Website https://tether.to/ Creator https://tether.to/ Consensus Mechanism Omni Layer within Bitcoin blockchain Tether is the world’s first stablecoin. It’s purpose is to allow investors to have liquidity within the crypto industry. Investors can trade fiat dollars for Tether and change Tether back into fiat dollars easily, without seeing volatility in the fiat value of their crypto investment. Tether (abbreviated USDT) is one of the most popular cryptocurrencies in the world and the most widely used stablecoin. Tether was created to attach (or tether) the US dollar to the blockchain. Tether Provides Liquidity The…

Proof of Stake Consensus

By admin | April 22, 2022 | 0 Comments
Proof of Stake Consensus Cryptocurrency

Proof of Stake (PoS) consensus is a cryptocurrency validation mechanism that confirms the validity of transactions on a blockchain and facilitates the creation of new blocks to be added to the blockchain. With distributed blockchain technology, a need exists to ensure that new entries to the distributed ledger are legitimate. Proof of Stake is one of many different consensus mechanisms that have been created or used since the advent of cryptocurrency in 2009 to ensure the integrity of distributed ledgers. The Proof of Stake consensus mechanism was created to solve the problems of inefficiency that exist with Proof of Work…

Emin Gün Sirer (Cornell) – Avalanche Blockchain

By Richard Robbins | April 20, 2022 | 0 Comments

This article is one of TheTechnologyVault.com’s documentation of those cryptocurrency industry influencers. Company: Ava Labs School: Cornell Blockchain: Avalanche Coin: AVAX Emin Gün Sirer is a professor of Computer Science at Cornell University, in addition to being a cryptocurrency entrepreneur. Together with two graduate students at the school, Sirer founded Ava Labs in 2018 and led the research that led to the creation of the Avalanche blockchain and its native cryptocurrency called AVAX. Emin Gün Sirer Describes Technology Advantages of Avalance Blockchain The presentation below, given by Emin Gün Sirer in 2020 in preparation for the release of the Avalanche…

Proof of Work Consensus

By Richard Robbins | April 14, 2022 | 0 Comments
Proof of Work Consensus for Cryptocurrency

Proof of Work (or PoW) is a method used to verify that some computational work has been done as a way to filter out users attempting to participate in a network in a way that would be antagonistic. The concepts upon which the modern Proof of Work consensus is built came about in 1993 to stop bad actors, who are dissuaded from bad behavior when sufficient “skin in the game” is required. The inventors of the concepts used in what eventually became referred to as Proof of Work used the method to prevent distributed denial of service (DDoS) attacks and…

Stellar Network Assets and Anchors

By Richard Robbins | March 7, 2022 | 0 Comments
Stellar Network Anchors and Assets

Stellar uses anchors to bridge tethered assets onto the Stellar network for holding or trading.

Introduction To the Stellar Payment Network

By Richard Robbins | February 21, 2022 | 0 Comments

The Stellar payment network is an open source protocol that allows users to store and transfer money, including fiat currencies and crypto currencies. Stellar was created to enable people using the many disparate financial systems throughout the world to exchange monetary value using the same efficient payment network. The Stellar Development Foundation The Stellar Development Foundation (or SDF) is the non-profit organization behind the Stellar Payment Network. The foundation is headquartered in San Francisco, California, and was founded in 2014 to support the development and growth of the Stellar payment network and of the Stellar Lumens (or XLM), which is…

Ethereum (ETH)

By Richard Robbins | February 7, 2022 | 0 Comments
Ethereum Cryptocurrency

Symbol: ETH Ledger Start: July 30, 2015 Programming Language: Solidity Official Website: https://ethereum.org/ Code Repository: https://github.com/ethereum Consensus Mechanism: Proof of Stake (upgraded from original Proof of Work used for Ethereum) Ethereum: “The World Computer” Ethereum Description Ethereum is a cryptocurrency that is the second largest in market capitalization, behind only Bitcoin in overall value. The blocks of Ethereum’s blockchain are updated at a much faster rate than Bitcoin: every 12 seconds for Ethereum versus about 10 minutes for Bitcoin. The video below explains what the Ethereum digital asset is and describes some of the most fundamental aspects of the coin.…

Binance Cryptocurrency Exchange

By Richard Robbins | February 1, 2022 | 2 Comments
Binance Cryptocurrency Exchange

Quick Facts about the Binance Exchange Website: https://www.binance.comGitHub Repository: https://github.com/binance-exchange Binance is a the largest (terms of daily trading volume) cryptocurrency exchange in the world. Binance facilitates trading of hundreds of cryptocurrencies on its exchange platform, except in areas where there are legal restrictions. Binance has been operational since July 2017. Zhao Changpeng is the founder and CEO of Binance. He was a co-founder of OKCoin, one of the largest cryptocurrency exchanges in China. In January 2018, Binance announced that it would be relocating its headquarters to Malta due to regulations in China which banned cryptocurrency exchanges from operating in…